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Thread: Unfair practices by Citibank Home Loan

  1. #1
    zalavk is offline Junior Member
    Join Date
    Jul 2011
    Posts
    1

    Default Unfair practices by Citibank Home Loan

    Hi,

    I have home loan from Citi Bank. My home loan account number is 912402. I logged the complain with citi bank on 18 Aug 2011. Reference number given by citibank for this complain was 15216649. This was regarding unfair interest charged by citi bank on my home loan which is not in co-relation with RBI rate. Additionally two home loans from the same bank had different increase in rate. I demanded to reduce the rate and that too with co-relation with Citi Bank. Unfortunately citi bank had given many false promises. Later I received the call from citibank that my rate of interest will be reduced and for that you will get the call directly from Sales team of citi bank. I was told that the name of person who will call is Ms. Deepti Sharma. Initially I was told by Deepti that My rate of interest is reduced to 11% will be applicable from next month i.e. from October 2011. When there was not change in rate of interest I again called Citi bank. This time I was told that Deepti is on long vacation and there is no such record of rate of interest reduction for my account. After that so many complains were registered but no positive response. Complain numbers are: 4411106159, 4411106419, 4411120101. One day Deepti called me that my rate of reduction is approved and interest rate is 11.5%. I asked her to send me in written that she did through email. But when I see the EMI of next month, interest rate charged was 11.75%. I am very much harrashed by Citi Bank. I request you take necessary action against citibank.
    -------------------------------------------------
    Recent Chain of Emails with Citi Bank.
    ---------------------------------------------------

    Deepti,

    This is even more frustrating. See below email of yours during last month where you have stated that you got an approval for 11.5%.

    Kindly do the same on priority basis, the EMI amount to be filled is 50718
    We have received rate break approval for 11.5% against 12.00% for your loan account no# 912XXX
    Please do call me for any clarification/assistance
    Assuring you of our best attention at all times

    I believe itís time to go to consumer court. I will wait for your final answer for two more days. If nothing can be done from your side then I will log the complain.

    Vijay

    From: Sharma, Deepti [mailto:deepti.sharma@citi.com]
    Sent: Wednesday, January 11, 2012 2:27 PM
    To: Vijay Zala
    Cc: J B, Karthigeyan
    Subject: RE: Citibank N.A

    Dear Sir

    Greeitngs.This was regarding your concern about the rate of interest maintenance.
    The approvals that we receive are for specific period and are subjected to change basis the prevailing grid of that time.
    Since we did not receive the mandate and had to seek approval again, the prevailing grid allowed us to get the reduced rate maintained at 11.75%

    Regards
    Deepti


    ________________________________________
    From: Vijay Zala [mailto:vijay.zala@exfo.com]
    Sent: Wednesday, January 11, 2012 2:10 PM
    To: Vijay Zala; Sharma, Deepti [GCG-AP_IND]
    Cc: J B, Karthigeyan [GCG-AP_IND]
    Subject: RE: Citibank N.A

    Hi Deepti,

    I am waiting for 2 days and no response (well itís more than 8 months now and problem is yet un resolved). I am getting frustrated with your services. Are you doing something or I need to escalate it?

    Thanks
    Vijay

    From: Vijay Zala
    Sent: Monday, January 09, 2012 10:18 AM
    To: Vijay Zala; 'Sharma, Deepti '
    Cc: 'J B, Karthigeyan '
    Subject: RE: Citibank N.A

    Hi Deepti,

    I have not yet received the letter from Citibank? Can you please let me know what is my current rate of Interest? In my home loan online account it is displaying 11.75%. You confirmed me that my rate of interest will be 11.5%.
    Unfair practices by Citibank Home Loan-citibank.jpg

    Vijay

    From: Vijay Zala
    Sent: Tuesday, December 27, 2011 12:57 PM
    To: 'Sharma, Deepti '
    Cc: J B, Karthigeyan
    Subject: RE: Citibank N.A

    Thanks Deepti.

    Kindly confirm that my next EMI will be @ 11.5%.

    Vijay

    From: Sharma, Deepti [mailto:deepti.sharma@citi.com]
    Sent: Tuesday, December 27, 2011 12:55 PM
    To: Vijay Zala
    Cc: J B, Karthigeyan
    Subject: RE: Citibank N.A

    Sir

    Greetings. You can expect letter anytime between first-second week of Jan

    Regards
    Deepti

    ________________________________________
    From: Vijay Zala [mailto:vijay.zala@exfo.com]
    Sent: Tuesday, December 27, 2011 11:50 AM
    To: Vijay Zala; Sharma, Deepti [GCG-AP_IND]
    Cc: J B, Karthigeyan [GCG-AP_IND]
    Subject: RE: Citibank N.A

    Hi Deepti,

    I still do not receive any official letter for rate of interest reduction. I have done everything you asked for. When can I expect the letter?

    Vijay
    From: Vijay Zala
    Sent: Monday, December 19, 2011 11:21 AM
    To: Vijay Zala; Sharma, Deepti
    Cc: J B, Karthigeyan
    Subject: RE: Citibank N.A

    Hi Deepti,

    As per our discussion last week I had received the call from Citi bank and had given the approval to deduct the overdue amount from my account directly. I can see that the amount is not yet deducted. Make sure that you finish the formalities timely. Please make sure that I do not need to hear any complain now (that I am hearing from last 5 months) and the new reduced rate is applicable from next EMI. No more excuses now. I have done all you have asked me to do.

    Confirm me on this email that my next EMI will be based on 11.5%. Also send me formal letter about the same.

    Vijay

    From: Vijay Zala
    Sent: Friday, December 16, 2011 12:30 PM
    To: 'Sharma, Deepti '
    Cc: J B, Karthigeyan
    Subject: RE: Citibank N.A

    Hi Deepti,

    Thanks. Kindly consider this email as approval.

    Great if you deduct the overdue amount too from my account. Consider this email as an approval for the same.

    Vijay
    From: Sharma, Deepti [mailto:deepti.sharma@citi.com]
    Sent: Thursday, December 15, 2011 7:18 PM
    To: Vijay Zala
    Cc: J B, Karthigeyan
    Subject: RE: Citibank N.A

    Dear Sir

    Thank you for writing to us. This was regarding your rate of interest reduction query and overdue payment.
    The reduced rate will be reflecting from Jan 2012 provided we get the specific approvals for mandate maintenance since you are not in Pune
    We are working towards the same

    Regards
    Deepti


    ________________________________________
    From: Vijay Zala [mailto:vijay.zala@exfo.com]
    Sent: Thursday, December 15, 2011 11:01 AM
    To: Sharma, Deepti [GCG-AP_IND]
    Cc: J B, Karthigeyan [GCG-AP_IND]
    Subject: RE: Citibank N.A

    Hi Deepti,

    I am out of Pune and will reach back to Pune by next week. I can send the approval through email if it helps.

    But Before I send the approval kindly send me that next month my EMI will be @ rate of 11.5%. Once I receive the official email from you I will send the approval for below mentioned revised email. Make sure to mention that from which month this rate will be applicable.

    Vijay

    From: Sharma, Deepti [mailto:deepti.sharma@citi.com]
    Sent: Thursday, December 08, 2011 7:20 PM
    To: Vijay Zala
    Cc: J B, Karthigeyan
    Subject: Citibank N.A

    Dear Mr. Zala

    Greetings. Thank you for your recent contact with us.
    This was regarding your SI maintenance update.
    Request you to please submit the attached SI request form along with a cancelled cheque before the 15th of this month so that we can initiate the revised mandate maintenance on our system.

    Kindly do the same on priority basis, the EMI amount to be filled is 50718
    We have received rate break approval for 11.5% against 12.00% for your loan account no# 912XXX
    Please do call me for any clarification/assistance
    Assuring you of our best attention at all times

    Regards
    Deepti
    Handheld: 9921050018
    Landline: 020-66064283
    Attached Files Attached Files

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